Mermaid Maritime    Last:0.104   -

Mermaid

Mermaid almost reached the target already .

Bintang      ( Date: 08-Aug-2011 08:00) Posted: This target would be achieved . Bintang      ( Date: 17-Jul-2011 13:22) Posted: Mermaid went down to 29 cents n turned up for a technical rebounce on 17/03/2011  . It went up to reach 41.5 cents almost touching 200MA on 14/04/2011   . But it turned down again after forming a shooting star on the same day . Mermaid went all the way down to 31 cents on 20/06/2011 , it went up again to form a bearish rising wedge after that . It gapped down breaking the wedge on 11/07/2011 .  Now the downside target is 25.5 cents

 

This target would be achieved .

Bintang      ( Date: 17-Jul-2011 13:22) Posted: Mermaid went down to 29 cents n turned up for a technical rebounce on 17/03/2011  . It went up to reach 41.5 cents almost touching 200MA on 14/04/2011   . But it turned down again after forming a shooting star on the same day . Mermaid went all the way down to 31 cents on 20/06/2011 , it went up again to form a bearish rising wedge after that . It gapped down breaking the wedge on 11/07/2011 .  Now the downside target is 25.5 cents . Bintang      ( Date: 15-Mar-2011 11:26) Posted: Mermaid has just hit 30 cents , n may fill the gap at 28 cents finally

 

  Likely further recovery after bullish breaks

Downtrend channel conquered. Mermaid Maritime could see more upside ahead after initiating a bullish break above the upper boundary of its 14-month downtrend channel and $0.37 support-turned-resistance a few sessions ago this was followed by a successful retest and rebound off these levels on increasing volume yesterday.

Indicators still bullish.

Initial resistance at $0.42.
We expect the counter to test the immediate resistance at $0.42 (key support-turned-resistance). The subsequent key resistance can be found at $0.50 (minor peaks from Jun to Oct ‘10).

Immediate support at $0.37.
Meanwhile, $0.37 is now the newly established resistance-turned-support, with the subsequent key support pegged at $0.29 (key trough in Mar ‘11).With both the RSI and MACD still trending up steadily, these suggest that the upside momentum is likely to continue.

 

Mermaid has secured a drilling contract in Indonesia worth US$26.5m for tender rig drilling MTR-2. We note the operational excellence of MTR-2, which had achieved eight years of no loss time accident.

In addition, we continue to see multiple catalysts from drilling which includes

1) exercise of the last in-the-money jack-up options with Keppel as well as

2) drilling contracts secured for newbuild jack-ups.

Any contracts secured by MTR-1 would also provide upside to our earnings estimates as we have not factored any contributions.

Current entry price provides limited downside risks, in our view.

Maintain OUTPERFORM

CIMB  TP S$0.49.

 

Chun boh 0.49, thought u said it turn into a MAID. 

pharoah88      ( Date: 18-Jul-2011 20:04) Posted: Mermaid Maritime As losses snowballed from an over-expanded subsea fleet in a surplus market, Mermaid has underperformed the FSSTI by 25% YTD. However, we believe that the worst could be over with Mermaid bottoming out in terms of qoq earnings. Invoked by compelling valuations against BV, visible improvements in its subsea business and multiple catalysts from drilling, we upgrade Mermaid to OUTPERFORM from Neutral. Incorporating higher utilisation rates, we lower our FY11 net losses by 8% and raise our earnings estimates for FY13 by 114%. As we believe that losses could be contained, we narrow our discount to BV to 20%, raising our TP to S$0.49.

 

Mermaid Maritime

As losses snowballed from an over-expanded subsea fleet in a surplus market, Mermaid has underperformed the FSSTI by 25% YTD.

However, we believe that the worst could be over with Mermaid bottoming out in terms of qoq earnings.

Invoked by compelling valuations against BV, visible improvements in its subsea business and multiple catalysts from drilling, we upgrade Mermaid to OUTPERFORM from Neutral.

Incorporating higher utilisation rates, we lower our FY11 net losses by 8% and raise our earnings estimates for FY13 by 114%.

As we believe that losses could be contained, we narrow our discount to BV to 20%, raising our TP to S$0.49.

 

MERMAID

becAme

mAId  ? ? ? ?

Bintang      ( Date: 17-Jul-2011 13:22) Posted: Mermaid went down to 29 cents n turned up for a technical rebounce on 17/03/2011  . It went up to reach 41.5 cents almost touching 200MA on 14/04/2011   . But it turned down again after forming a shooting star on the same day . Mermaid went all the way down to 31 cents on 20/06/2011 , it went up again to form a bearish rising wedge after that . It gapped down breaking the wedge on 11/07/2011 .  Now the downside target is 25.5 cents . Bintang      ( Date: 15-Mar-2011 11:26) Posted: Mermaid has just hit 30 cents , n may fill the gap at 28 cents finally

 

 

 

New mermaid Analyst Report - CIMB

http://www.scribd.com/fullscreen/60228705?access_key=key-18lxzsatzhc3xsic9wv0

 

Mermaid went down to 29 cents n turned up for a technical rebounce on 17/03/2011  . It went up to reach 41.5 cents almost touching 200MA on 14/04/2011   . But it turned down again after forming a shooting star on the same day . Mermaid went all the way down to 31 cents on 20/06/2011 , it went up again to form a bearish rising wedge after that . It gapped down breaking the wedge on 11/07/2011 .  Now the downside target is 25.5 cents .

Bintang      ( Date: 15-Mar-2011 11:26) Posted: Mermaid has just hit 30 cents , n may fill the gap at 28 cents finally . Bintang      ( Date: 22-Feb-2011 21:26) Posted: Unfortunately , Mermaid came down to 38 cents today . All long n short term moving averages are pressing the share price to go down further. Breaking the trendline at 37.5 cents would go down to 30 cents n may fill the gap at 28 cents eventually

 

Mermaid Maritime's associate Asia Offshore Drilling (AOD) has signed a construction contract for the third newbuild jack-up rig with Keppel Fels and has transferred the technical and commercial management agreement from Mermaid to Seadrill Limited.

We have a NEUTRAL call and TP S$0.41 on the stock.

 

O V E R H E A R D :

Adjunied GRC

was

" A A A A"   SUPER  Team  ? ? ? ?

aircraft      ( Date: 07-Apr-2011 11:20) Posted: Lol... This 'A' team ideology is crap lah

 

Mermaid's AOD has raised US$80m in gross proceeds from private placement of new shares. Mermaid has been allocated US$15m in the private placement and now owns 37.5% of enlarged share capital. Proceeds of the share placement will be used to exercise the first of two AOD's jack-up options with Keppel Corp. Exercise of the option is value-accretive as the options are in-the-money. Key positive is also the partnership with Seadrill, which enables Mermaid to capitalise on its strong operational platform.   

Maintain NEUTRAL TP S$0.41.

 

Mermaid Maritime Public Company Limited announced that its associate Asia Offshore Drilling Limited (AOD) has retained SEB Enskilda AS, Pareto Securities AS and RS Platou Markets AS as Joint Lead Managers and Joint Bookrunners to advise on and effect a private placement of new shares in AOD directed towards Norwegian investors and international institutional investors.

http://sgsharemarket.com/home/2011/06/singapore-company-highlights-09062011/?=MermaidMaritime

 

 

Lol... This 'A' team ideology is crap lah

 

IS  there  an  " A" TEAM  in  MERMAID ? ? ? ?

 

RECOVERY from RAPE

 

up 0.38

 

Now Dugong rape by Mermaid. 

 

M E R M A I D

RAPED  by  DUGONG